Market Bizzz

CMR Green Technologies is launching its initial public offering. The price band for the 630 crore issue is set between 182 and 192 rupees per share. Investors can subscribe to the offer from June 3 to June 5. This entirely offer for sale issue has been revised from its earlier proposed size.

The Securities and Exchange Board of India has fined Suzlon Energy and its top executives ₹29 crore. This action follows allegations of misleading investors by misstating financial statements between FY14 and FY20. Sebi’s investigation revealed questionable transactions, including the sale of a business at an inflated price.

The Securities and Exchange Board of India has closed its case against NDTV. This action relates to alleged disclosure failures concerning a 2018 order involving Vishvapradhan Commercial. No penalty was imposed on NDTV. The Securities Appellate Tribunal had previously ruled that VCPL did not gain control of NDTV. This ruling removed the basis for the disclosure requirement.

Brokerages have turned increasingly selective in identifying opportunities across sectors ranging from real estate and logistics to industrials and cement, highlighting companies with strong earnings visibility, improving business fundamentals and attractive valuations.

Wipro’s Rs 15,000 crore share buyback, priced at a premium, is nearing its June 5 record date. Retail investors can potentially achieve double-digit returns over 2-3 months, with brokerages projecting high acceptance ratios based on past trends and lean retail shareholding.

Coal India’s Rs 5,000 crore offer is now open for retail investors. Analysts see this as a good chance for long-term investment. The government is selling a portion of its stake. Institutional investors have already shown strong interest, bidding significantly higher than the floor price.

Oil prices surged approximately 2% as U.S. strikes on an Iranian military site escalated geopolitical tensions, despite ongoing talks. This rebound followed a significant drop due to expectations of a potential U.S.-Iran agreement. Analysts warn that even with a deal, normalizing shipping through the Strait of Hormuz could take months, impacting global oil markets.

The dollar strengthened near a one-week peak. New U.S. strikes in Iran have complicated peace talks. Oil prices rebounded as hopes for a quick resolution faded. Investors anticipate the dollar to rise further. The yen weakened significantly, nearing a level that previously prompted central bank intervention. Markets await key U.S. inflation data.

Gold prices dipped as escalating U.S.-Iran tensions fueled oil price surges, sparking inflation worries and casting a shadow over the Federal Reserve’s interest rate decisions. Investors are now keenly awaiting crucial U.S. economic data for further policy direction. Meanwhile, other precious metals like silver, platinum, and palladium also experienced declines.

On May 26, five Nifty500 stocks that gained over 4% were identified using the RSI Trending Up scan by StockEdge.com. An uptrend signal is generated when the RSI value crosses above 50 from lower levels. “RSI trending up” indicates improving momentum, suggesting strengthening price action and potential bullish continuation, often tracked by traders for buying opportunities.